Latest Currency News Continued - page 2
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GBP INR Exchange Rate Trends Tightly as UK Wage Squeeze Looms
16 May 2017 at 2 PM - Written by Minesh Chaudhari
STORY LINK GBP INR Exchange Rate Trends Tightly as UK Wage Squeeze Looms
UK data has devalued the Pound today, causing a tight trending in the GBP INR exchange rate. UK inflation rate figures have caused this downtrend, despite rising above forecasts from 2.3% to 2.7%.
The rise in inflation comes at a time of glacial wage growth, which has raised fresh fears of a wage squeeze damaging UK economic growth. Responding to the news was Resolution Foundation Chief Economist Matt Whittaker;
CATEGORIES: Currency Predictions Pound Rupee Forecasts
GBP AUD Exchange Rate Volatile as UK Inflation Skyrockets
16 May 2017 at 12 PM - Written by John Cameron
STORY LINK GBP AUD Exchange Rate Volatile as UK Inflation Skyrockets
The Pound Australian Dollar (GBP AUD) exchange rate has fluctuated this morning following the release of the UK’s latest inflation figures.
According to data released by the Office for National Statistics (ONS) UK inflation rocketed from 2.3% to 2.7% in April, reaching its highest levels since September 2013 and outpacing initial forecasts that it would rise to 2.6%.
The jump was largely prompted by higher air fares as the...
CATEGORIES: Australian Dollar Forecasts Daily Currency Updates
GBP ZAR Exchange Rate Drops -0.8% on Fears of Growing UK Unemployment
15 May 2017 at 2 PM - Written by Toni Johnson
STORY LINK GBP ZAR Exchange Rate Drops -0.8% on Fears of Growing UK Unemployment
The GBP ZAR exchange rate has fallen to 17.10 today, which is the worst rate since late April.
The sharp Pound to Rand downturn has largely been caused by pessimistic UK economic forecasts. One of the biggest has been EY Item Club’s estimate for UK unemployment.
The group predicts UK unemployment to remain around 4.7% in 2017, but for a greater jobless rate at 5.4% in 2018 and 5.8% in 2019.
Item Club Senior Economic...
CATEGORIES: Currency Predictions South African Rand Forecasts
GBP/EUR Fails to Capitalise as Greece Re-enters Recession
15 May 2017 at 12 PM - Written by Tim Boyer
STORY LINK GBP/EUR Fails to Capitalise as Greece Re-enters Recession
The GBP/EUR exchange rate is struggling around opening levels of 1.1792 today.
The British Pound has been kept weak by a new report from EY ITEM Club which offers a dovish forecast for the UK labour market over the coming years.
As well as a -0.1% fall in employment in 2018, the unemployment rate will rise from 4.7% to 5.4%, increasing another 0.4% in 2019, the report predicts.
‘The UK labour market may be starting to...
CATEGORIES: Pound Euro Forecasts
Indian Finance Minister’s Confidence in Economy Undermines GBP/INR
12 May 2017 at 4 PM - Written by Ben Hughes
STORY LINK Indian Finance Minister’s Confidence in Economy Undermines GBP/INR
A lack of UK data, coupled with a positive outlook for the Indian economy and monetary policy, has pushed the Pound Sterling to Indian Rupee exchange rate down -0.2% to 82.7830.
The UK data docket has been entirely empty today, giving markets nothing to distract them from yesterday’s poor data and disappointing developments from the Bank of England (BoE).
March figures covering industrial, manufacturing and construction...
CATEGORIES: Pound Rupee Forecasts
GBP CAD Exchange Rate Trends Lower after Widened Trade Deficit and Muted BoE Meeting
12 May 2017 at 1 PM - Written by Toni Johnson
STORY LINK GBP CAD Exchange Rate Trends Lower after Widened Trade Deficit and Muted BoE Meeting
Confidence in the Pound was sharply dented by a raft of disappointing UK data, leaving the Pound Canadian Dollar exchange rate on a downtrend.
Investors were not impressed to find that the UK visible trade deficit had widened further than forecast in March, clocking in at -13.44 billion rather than -11.6 billion.
This highlighted the continued vulnerability of the domestic economy, particularly as the NIESR gross domestic...
CATEGORIES: Canadian Dollar Forecasts Currency Predictions
GBP AUD Exchange Rate Slumps as BoE Leave Rates Unchanged
11 May 2017 at 2 PM - Written by Toni Johnson
STORY LINK GBP AUD Exchange Rate Slumps as BoE Leave Rates Unchanged
The Pound Australian Dollar (GBP AUD) exchange rate tumbled this afternoon as the Bank of England (BoE) voted to leave interest rates on hold.
When asked why the bank left rates at a record low of 0.25% despite robust inflation, BoE Governor Mark Carney responded that the level of stimulus was appropriate for the current situation and that inflation is only above the bank’s target rate of 2.0% because of the 16% fall in...
CATEGORIES: Australian Dollar Forecasts Currency Predictions
EUR to USD Exchange Rate Calmer Ahead of Friday’s Key Data
11 May 2017 at 10 AM - Written by Frank Davies
STORY LINK EUR to USD Exchange Rate Calmer Ahead of Friday’s Key Data
Thursday finally saw the Euro recover slightly after being sold in profit-taking for most of the week. The Euro to US Dollar exchange rate has also benefitted from decent Eurozone data and US political jitters.
After Sunday’s election of pro-EU Emmanuel Macron as the next President of France, EUR/USD briefly jumped to a high of 1.1022 at the beginning of the week. However, EUR/USD has tumbled since then, hitting a low of...
CATEGORIES: Daily Currency Updates Euro Forecasts
EUR GBP Exchange Rate Tight ahead of High-Impact BoE Inflation Report
10 May 2017 at 4 PM - Written by James Fuller
STORY LINK EUR GBP Exchange Rate Tight ahead of High-Impact BoE Inflation Report
The Euro’s lacklustre performance against the Pound today follows a speech from ECB President Mario Draghi.
Although Draghi was optimistic about Eurozone growth, he stressed that ‘it is too early to declare success’.
This ‘wait and see’ attitude, along with a frosty reception from the Dutch MPs Draghi was speaking to, has lowered confidence in the Euro. Traders hoping for a more optimistic outlook on monetary...
CATEGORIES: Euro Pound Forecasts
GBP to USD Exchange Rate Benefits from Trump Jitters
10 May 2017 at 12 PM - Written by Ben Hughes
STORY LINK GBP to USD Exchange Rate Benefits from Trump Jitters
After slipping earlier in the week, the Pound to US Dollar exchange rate began to recover on Tuesday evening and Wednesday as investors reacted with shock to news that US President Donald Trump had fired the Director of the FBI.
Despite recovery from its weekly lows, GBP/USD continues to trend below the week’s opening levels. GBP/USD opened this week at the level of 1.2980 and at the time of writing the pair trended in the...
CATEGORIES: Dollar Pound Forecasts